AUD/USD

;-)

NO supply and demand fairy tale!

FF

only IF my count is correct , this what i see



let her retrace first to 0.740729 then take short from there to end of A-red

LONG!

Closed!
GOT IT!
+14 pips for 30 min.

Another long.
Fast long.

It did not work this time.
-9 pips.

scalping it for 8pips

Hesitate to short the top

AB=CD Pattern

isn't it too early ??

Short at 0.74055, will close on NFP spike

https://www.smh.com.au/business/the-...05-p4zvml.html

This is the state of affairs in Australia right now.

As property prices fall and the equity shrinks the borrowing power diminishes and so does the redraw .

Bank lending has tightened.

Living on property credit is coming to an end and so has many lifestyles

Oh did mention the drought ?

Australian farmers are suffering one of their worse droughts on record.

Australians are helping them out with charity appeals and the govt have put some extra in their coffers but its not enough .

This will be a huge suffering to the economy and could be inflationary which will have impact on food prices and house hold budgets etc

The pair remains under pressure trading within the range around 0.74 zone, continue to be lack of directional strength.

Most probably the Reserve bank of Australia will hold the Interest rate at 1.50% ! Therefore there are chances of appreciation in Australian dollar, It is trading above the major support level 0.73858 and forms a downward wedge pattern in a technical 4-hour chart. It would face hurdle at first resistance level 0.74002 and if it breaches this level, then it will face second resistance at 0.74064. Further mounting pressure will force the pair to climb till level of 0.74217 after solid breakout and breaching third resistance at 0.74118. It will hit level of 0.74575 followed by hitting value of 0.74778

If it crosses the support level, then it will get second support at 0.73791 and may witness a fall till level of 0.73598 after failure to sustain above third support level 0.73701.

au h1

good start

Brought when TL broke and firmly closed above it, moved SL

target is set , 0.74330

0.746301 seems good to me